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    Bankruptcy Is Better Than a Bailout

    Today Senators John Cornyn (R–TX) and Pat Toomey (R–PA) introduced the Taxpayer Protection and Responsible Resolution Act to begin repairing some of the damage caused by the Dodd–Frank regulations. The 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act increased regulations on virtually every aspect of the financial sector and … More

    Green Light for Detroit Bankruptcy: Time for Unions to Come to the Table

    Federal Judge Steven Rhodes’s ruling to allow the City of Detroit to proceed with its bankruptcy filing is a welcome—even momentous—occasion for Detroit. It means the city will be able to restructure its $18 billion in debt, the first step in the challenging process of rebuilding the city and reforming … More

    With His Premiums More Than Doubling, This Dad Would "Rather File Bankruptcy" Than Deal with Obamacare

    Ben Neptun and his wife Charla are “furious” their family’s health insurance premium will be raised from $419 to $899 per month because of Obamacare. “We will absolutely go in a hole with this change,” Ben said. Ben, 36, and Charla, 34, are both home health nurses in Mobile, Alabama. … More

    No Punishment for Bankruptcy?

    As Congress continues to deal with the “too big to fail” issue, it would do well to recognize that bankruptcy does not automatically equate with criminal behavior. Sunday’s New York Times ran a story detailing how Wall Street regulators have essentially “thrown in the towel” (at least for now) on … More

    As Detroit Goes, So Goes the Nation

    Detroit is the poster child for economic decline. The city’s policies and politics over the past half-century should serve as a “do not” guide for policymakers across the country. There’s a great deal lawmakers in Washington can learn. The first is understanding that Detroit’s demise was the result of big-government, … More

    Detroit Today, Illinois Tomorrow

    Detroit’s bankruptcy petition last week was far from a surprise, but what should be noted is that it is the first of what will likely be a major wave of municipalities and states that will follow behind. Specifically, President Obama’s home state of Illinois. Many wonder why Detroit waited so … More

    Detroit and the Bankruptcy of Liberalism

    Detroit is a showcase for the liberal agenda — and now it is bankrupt. More than 50 years of control by big-government liberals and union bosses have left a once-great American city crippled and deteriorating. Last week Detroit became the largest city in American history to declare bankruptcy. Few were … More

    Detroit Bankruptcy Is No Time for Federal Bailouts

    The city of Detroit filed for Chapter 9 bankruptcy protection yesterday with some $18 billion in debt, making it the largest municipal bankruptcy in the United States. There will inevitably be calls for the federal government to bail out Detroit. Washington should set a firm precedent now that it will … More

    Too Big to Fail: Some Questions for the House Financial Services Committee

    Tomorrow, the House Finance Committee, chaired by Representative Jeb Hensarling (R–TX), is holding a hearing on one of the most damaging legacies of the 2008 financial crisis: the “too big to fail” doctrine. Simply put, the doctrine holds that some firms are so essential to the functioning of the U.S. … More

    Too Big to Fail: Brown–Vitter Swings and Misses

    In an unusual left–right pairing, Senators Sherrod Brown (D–OH) and David Vitter (R–LA) last week introduced legislation to increase capital requirements on large banks. Calling it the “Terminating Bailouts for Taxpayer Fairness” or TBTF Act, the legislation is aimed at ending another TBTF: the doctrine of “too big to fail.” … More